The 4th Science and Technology Entrepreneurship Partners’ Upscale Program (STEP-UP) was held in the picturesque setting of Newport Beach, CA, from May 20 to 21, 2023. STEP-UP is dedicated to promoting and enriching the entrepreneurship of KSEA members, as well as facilitating discussions on the success of innovative ventures that leverage advanced science and technology.
Since 2020, the STEP-UP events have been organized annually, alternating between the east coast and the west coast. However, during the initial preparations for the first event, the pandemic struck, forcing it to be conducted solely online, with only a few local participants attending in person. The subsequent two events were held in a hybrid format, with one taking place in Long Beach, CA, and the other in New Jersey, NY. This year marked a significant milestone as the event returned to being fully in-person, and we had the pleasure of hosting over 130 participants on-site, which was a first in the history of STEP-UP.
Reflecting the business trends in Southern California, this year’s focus was on the convergence of “the Arts, Technology, and Entrepreneurship,” exploring the innovative and entrepreneurial possibilities that arise when these fields intersect. We invited speakers from the fields of game, entertainment, media, metaverse, AR/VR, and AI/ML along with investors and law professionals.
Program
The STEP-UP 2023 program was three-folds: Showcase of Success, Road to Success, and Startup Pitch Events. For the Showcase of Success sessions, several well-known successful startups were featured, sharing their valuable insights and interesting stories behind their success. The Road to Success sessions hosted entrepreneurs and lawyers covering key topics such as marketing strategies, business law, and funding.
In addition to the success sessions, we had two separate pitch sessions: elevator pitch and regular pitch. For the elevator pitch session, about 60 startup CEOs and representatives introduced their businesses in a short presentation in 1 or 1.5 minutes. All the participants of the elevator pitch became a judge to select their favorite startups who will advance to the next round, the regular startup pitch. 10 startups were selected from the Elevator Pitch and performed a full pitch in 10 minutes to VCs and investors. They received investor’s feedback about their IR (Investor Relations) deck and business model.
As a follow-up program, we have outlined plans to offer professional mentoring to startups that were selected during STEP-UP 2023, enabling them to participate in the startup pitch competition (SPC) held at the Industry and Entrepreneurship Symposium (IES) at UKC. Through collaboration with the UKC IES Committee, these startup representatives will have valuable opportunities to present their ideas, engage with investors, receive constructive feedback, and potentially secure investments for their ventures.
Participants
A total of 136 in-person participants registered to the STEP-UP 2023. Among the participants, about 70 percent was male and 30 percent was female.
The distribution of participant types highlights that the role most represented among all participants was “Professional,” with 54 individuals identifying themselves in this category. The second largest participant type was “Startup CEO or Representative.” The table below provides an overview of all the participant types. Notably, over 23 percent of the participants were students, indicating the success of our efforts to include Next Gen (NG) or Young Generation KSEA members in STEP-UP events. Their active participation in all sessions, including networking events, reflects their engagement and enthusiasm for the program.
| Type | # of Participants |
| Professional | 54 |
| Startup CEO/Representative | 46 |
| Student | 32 |
| VC | 4 |
| Postdoc | 2 |
The significant presence of startups at their pre-seed or idea stage (41) and seed stage (22) among the participants indicates that STEP-UP holds strong appeal for early-stage startups. This demonstrates the program’s effectiveness in attracting and supporting entrepreneurs in the crucial early phases of their ventures. By providing a platform for networking, mentorship, and showcasing innovative ideas, STEP-UP successfully caters to the needs of startups at the initial stages of their entrepreneurial journey.
Participants Feedback
The post-event survey conducted to gather feedback from participants yielded responses from 38 individuals, who shared their opinions, suggestions, and provided glowing testimonials. When asked to rate their overall STEP-UP 2023 experience, the majority of survey responders (73.7%) awarded a perfect score of 10 out of 10 or 9 out of 10. On average, the responders rated their experience as 9.1 out of 10 points. The summary plot below visually represents the distribution of these ratings, indicating the high level of satisfaction expressed by the participants.
The table below provides an overview of the participants’ responses regarding their satisfaction levels, utilizing a five-point Likert scale that includes options such as Satisfactory, Somewhat Satisfactory, Neutral, Somewhat Unsatisfactory, and Unsatisfactory, along with a “no comment” option. The responses were overwhelmingly positive, indicating a high level of satisfaction among the participants.
| (Total answered: 38) | Program & Contents | Venue | Food | Organizers & Volunteers |
| Satisfactory | 76.3% | 89.5% | 86.8% | 86.8% |
| Somewhat Satisfactory | 18.4% | 5.3% | 7.9% | 2.6% |
| Neutral | 5.3% | 5.3% | 5.3% | 2.6% |
| Somewhat Unsatisfactory | 0.0% | 0.0% | 0.0% | 2.6% |
| Unsatisfactory | 0.0% | 0.0% | 0.0% | 0.0% |
| No comment | 0.0% | 0.0% | 0.0% | 5.3% |
Participants Testimonials (selected)
“The program provided me with an incredible platform to learn, network, and grow as an entrepreneur. One of the most significant aspects of the program was the opportunity to interact with industry experts, seasoned entrepreneurs, and fellow participants who were all passionate about science and technology entrepreneurship. The knowledge and insights shared during panel discussions, workshops, and mentorship sessions were invaluable. I gained a deeper understanding of various aspects of entrepreneurship, including market analysis, business strategy, funding opportunities, and team building. It is a unique opportunity to gain insights, forge connections, and accelerate their entrepreneurial journey. I highly recommend aspiring entrepreneurs to seize this opportunity and make the most of this enriching experience.”
“I had an absolutely fantastic and exhilarating experience at STEP-UP 2023. The effort put into organizing this event is truly commendable, and it keeps getting better every year. Interacting with CEOs, investors, and professionals provided me with valuable insights and information. I am eagerly looking forward to next year’s event. Without a doubt, STEP-UP is the premier gathering for Korean American Science and Technology Entrepreneurs in America. Thank you so much. I highly recommend it to others!”
“The event also featured a captivating keynote speech delivered by a renowned industry leader. Their inspiring words resonated deeply with me, and I found myself motivated to take action and pursue my entrepreneurial dreams with renewed vigor. The speaker’s ability to captivate the audience and deliver actionable insights left an indelible mark on my journey.”
“First of all, I really appreciate the organization of this wonderful opportunity to experience the enthusiasm of being an entrepreneur in the US as a Korean. All the programs and sessions were invaluable, especially the invited talks of all the successful startups, which were very interesting and informative. They made me feel more motivated and inspired to pursue entrepreneurship. Furthermore, it was incredibly valuable to have the opportunity to present and share our company’s ideas and receive valuable feedback from industry experts and VCs. I’m already looking forward to next year’s STEP UP program. Thank you all again!”
“It was wonderful to have the opportunity to introduce both my work and myself during the self-introduction session, allowing me to connect with fellow participants. I’m delighted to have engaged in conversations with potential investors who expressed interest in supporting my startup. In fact, I’ve continued interacting with them following the conference.”
“The overall program was well prepared to maximize engagement from all participants.”
Some Thoughts for the Future STEP-UP
STEP-UP 2023 proved to be immensely successful on multiple fronts, encompassing the program’s quality, the venue, the esteemed speakers, and the active involvement of the participants. Gratitude is owed to our dedicated committee members, whose efforts led to the unexpected early closure of registration, due to the overwhelming number of registrations received during the initial registration period. This exceptional response can be attributed, in part, to the fruitful collaboration between KSEA and the local community group, SoCal K-Group. The synergistic relationship between these entities played a pivotal role in effectively promoting the event and encouraging participation from the local startup community.
The involvement of our NG (Next Generation) members in the organizing committee from the initial stages of preparation was another key factor contributing to its success. Their unwavering dedication to the event resulted in a significant number of young Korean-American members actively participating, including current students, young professionals, and post-docs. Their enthusiasm and contributions played a vital role in fostering a vibrant and engaging atmosphere throughout the event.
While the event was undoubtedly successful, there are areas that require further improvement. One aspect that was disappointing was the gender imbalance observed. Women participants accounted for only 30% of the total attendees, and the representation of female CEOs participating in the startup pitch was only about 20%. The lack of female participation in entrepreneurship has been identified as an important issue that necessitates collective effort and attention for future STEP-UP events. It is imperative that we work together to address this disparity and create a more inclusive environment that encourages and supports the involvement of women in entrepreneurship.
Collaborating with organizations like the Korean Women in Science and Engineering (KWiSE) or local women entrepreneur groups would indeed be advantageous in addressing the gender imbalance. By establishing connections and extending invitations to Korean women entrepreneurs who have already initiated businesses or are in the process of doing so in the United States or in South Korea through such collaborations, we can foster a more diverse and inclusive environment. This proactive approach will not only provide valuable insights and experiences from successful women entrepreneurs but also inspire and encourage aspiring women entrepreneurs to participate in future STEP-UP events.
We should also explore ways to establish ongoing connections with participants, marketing experts, legal professionals, and investors after the event. To facilitate ongoing communication with participants, we may consider implementing methods such as creating an email list and a group chat on a messaging platform like KakaoTalk. This way, we can engage with participants and share updates leading up to next year’s startup event. These communication channels will provide a convenient way for participants to stay connected, exchange ideas, and receive relevant information. they could come back to the future STEP-UP events.
Overall, this event was a great success, and it is crucial to sustain our endeavors in connecting our members, entrepreneurs, and professionals. By continuously promoting the entrepreneurial activities of KSEA members and facilitating collaborations between KSEA and other business-oriented communities, we can foster a thriving ecosystem that nurtures innovation, growth, and meaningful partnerships. The ongoing commitment to these efforts will undoubtedly contribute to the advancement and success of our members in their entrepreneurial pursuits.
The STEP-UP 2023 was supported by KSEA Affiliated Professional Societies (APS) and local chapters including KITEE, SoCAL K-Group (Korean Professional Network in Southern California), and KOCSEA (Korean Computer Scientists & Engineers Association in America).
The tremendous success of STEP-UP 2023 can be attributed to the hard work and collaboration of the dedicated STEP-UP Committee, who invested more than five months into organizing the event. Their collective efforts have elevated STEP-UP to become a premier program of KSEA (Korean-American Scientists and Engineers Association). For more information about the STEP-UP 2023 Committee and the detailed program, please visit the official STEP-UP website at https://stepup.ksea.org/.
[STEP-UP 2023 Group Photo]
[Invited Speaker Talk, Session I: Steve Lee, CEO at Amaze VR]
[Main Conference Room: Pacific Ballroom at Hyatt Regency JWA Newport Beach]
[Session I Fireside Chat: Steve Lee, Se-Hwang Kim, and Kevin Kim; Moderator Hansol Hong]
[Lunch Buffet in Pacific Ballroom 1 at Hyatt Regency JWA Newport Beach]
[Main Conference Room: Pacific Ballroom at Hyatt Regency JWA Newport Beach]
[Elevator Pitch: Suejung Huh, CEO at Ohhh Inc.]
[Networking in the lobby area]
[Networking during the dinner banquet]
[Banquet Dinner at Pacific Ballroom at Hyatt Regency JWA Newport Beach]
[STEP-UP 2023 Banquet Dinner]
[STEP-UP 2023 Reception]
[STEP-UP 2023 Organizing Committee: (Top row from the left) Kooksang Moon, David Son, Kevin Kim, IL Minn, Jeho Park, Sunny Lee, Ashley Park; (Bottom row from the left) Dillan, Eunbi Cho, Jennifer Cho, Kyeong Ho Yang, Jun-Seok Oh; (Not shown in the photo) Hansol Hong, James Han, Wonjae Choi]
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